Ford Motor is cutting the planned production of its all-electric F-150 Lightning pickup roughly in half in 2024, marking a major reversal after the automaker significantly increased plant capacity for the electric vehicle in 2023.
The new production plans call for an average volume of around 1,600 F-150 Lightnings a week at Ford’s Rouge Electric Vehicle Center in Dearborn, Michigan, starting in January – according to a report by CNBC.
The automaker most recently planned to produce roughly 3,200 of the vehicles on average per week.
“We’ll continue to match production with customer demand,” said a Ford spokeswoman.
A report by Bloomberg, the automaker is cutting production by half amid fading demand for electric vehicles.
Ford executives have recently said the automaker will match production to demand, as the company cancels or postpones $12 billion in upcoming EV investments.
The production cuts for the F-150 Lightning were first detailed in a planning memo to suppliers obtained by Automotive News. The memo cited “changing market demand” for the cuts, according to the publication.
Sales of the F-150 Lightning increased in 2023, notching a monthly record of roughly 4,400 sold in November. The company has only sold 20,365 of the trucks through November, up 54% from a year earlier